Under the proposed listing, Guangzhou Yimei Innovative Medical Science and Technology Co., Ltd (“GYIMSTC Ltd”) would spin off from G Medical, with the ASX listed G Medical to retain not less than a 50% ownership stake in the proposed Hong Kong Stock Exchange listed GYIMSTC Ltd. G Medical currently owns 70% of GYIMSTC Ltd.
GMV listed in May 2017 at 20c a share. Since then it has risen to a high of 58c, reached in November 2017, after which it began a slow nine month decline all the way back to 18c, just below its issue price.
Today’s news saw it gap up and open at 26.5c before reaching an intraday high of 29.7c. It closed at 27c, up 45.95% on yesterday’s close on volume of 6.66 million shares, its highest daily volume since November 2017.